Korean high speed rail authority to launch bond issues

Korean rail authority looks set to tap the domestic won bond market for fresh finance.

As part of efforts to meet funding requirements, the Korea High-speed Rail Construction Authority plans to issue W500 billion US$453 million in bonds by the end of this year. The Construction and Transportation Ministry said Friday it had received the rail authority's financing plan and will approve it after consultation with the Finance and Economy Ministry concerning the financial market's capacity to absorb such a large amount of bonds and subsequent rate changes.

The bonds will be issued on a monthly basis until the end of this year and follow W500 billion dispersed recently by the Finance and Economy Ministry from its public fund account.

A ministry source said the rail authority should...

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